Company No: 09358686 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

D Young

REGISTERED OFFICE	70 White Lion Street
	London
	N1 9PP
	United Kingdom

COMPANY NUMBER

09358686 (England and Wales)

ACCOUNTANT	Gravita Essex Limited
	Treviot House
	186-192 High Road
	Ilford
	Essex
	IG1 1LR
	United Kingdom

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	4,005		5,535
		4,005		5,535
Current assets
Debtors	5	317,425		58,298
Cash at bank and in hand		368,456		122,745
		685,881		181,043
Creditors: amounts falling due within one year	6	( 435,341)		( 154,658)
Net current assets		250,540		26,385
Total assets less current liabilities		254,545		31,920
Creditors: amounts falling due after more than one year	7	( 34,505)		( 41,187)
Net assets/(liabilities)		220,040		( 9,267)
Capital and reserves
Called-up share capital		2,000		2,000
Share premium account		2,900		2,900
Profit and loss account		215,140		( 14,167 )
Total shareholders' funds/(deficit)		220,040		( 9,267)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Theyr Limited (registered number: 09358686) were approved and authorised for issue by the Director on 18 September 2025. They were signed on its behalf by:

D Young Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Theyr Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 70 White Lion Street, London, N1 9PP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

The prior year figures have been restated in the financial statements to reflect identified adjustments required. Details regarding these restatements are disclosed in the accompanying notes.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value-added tax. It represents revenue generated from the sale of licences. Revenue from licences is recognised over the duration of the licence term, with appropriate adjustments made for accrued and deferred income.

Taxation

Current tax
A current tax liability is recognised for the tax recoverable in relation to past periods.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Profit and loss account		150,638		(164,805)		(14,167)
Intangible assets		16,493,743		(16,493,743)		0
Debtors		21,010		37,288		58,298
Creditors: amounts due within one year		2,566		152,092		154,658
Revaluation reserve		16,443,743		(16,443,743)		0
Turnover		509,944		105,288		615,232

During the preparation of the current year’s financial figures, several discrepancies were identified in the prior year’s financial statements. The primary issues pertained to misclassifications within the balance sheet.

Additionally, an error affecting the profit and loss account was noted, arising from an income cut-off issue and an accounting misstatement dating back to the year ended 2016.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		2

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	15,372		15,372
Additions	1,583		1,583
At 31 December 2024	16,955		16,955
Accumulated depreciation
At 01 January 2024	9,837		9,837
Charge for the financial year	3,113		3,113
At 31 December 2024	12,950		12,950
Net book value
At 31 December 2024	4,005		4,005
At 31 December 2023	5,535		5,535

5. Debtors

	2024		2023
	£		£
Trade debtors	129,750		21,010
Corporation tax	58,803		0
Other debtors	128,872		37,288
	317,425		58,298

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	24,709		0
Taxation and social security	59,706		22,877
Other creditors	350,926		131,781
	435,341		154,658

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	34,505		41,187

8. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Advances or credit given	74,450		6,372
Repayment received	0		(5,572)

At the year end the balance owing to the company was £110,736 (PY £28,273). Interest is charged on loans at the official rate set by HMRC. The loan to the directors are repayable on demand.

9. Contigent liabilities

A claim was previously brought by a previous supplier for unpaid invoices, which the company disputes. The claim was dismissed by the court due to improper filing, and the claimant was ordered to pay the company’s legal costs. The claim was subsequently discontinued. While the claimant retains the right to initiate new proceedings, this is considered unlikely, and the company believes no liability exists. Accordingly, no provision has been made in these accounts.